subject: Flipping Real Estate for the Jobless [print this page] Flipping Real Estate for the Jobless Flipping Real Estate for the Jobless
The recession has officially ended. But everyone still feels its effect. The aftermath of the economic slowdown indeed caused so much suffering for many Americans, especially to those who lost their job during the tougher times. And now, these jobless people are still struggling to make ends meet. Their lives were a rat race when they had a job and it's even worse without one. It is perhaps time to try other options of making money. A rather unconventional effective way of building wealth, it comes by the name flipping real estate.
The mere sound of "real estate" scares you, doesn't it? These two words are often equated with huge capital. And it's true; to be able to buy and later sell real estate properties, you will need a lot of money. That's why there is a perception that real estate investing is a trade reserved for those who actually are rich enough to live a very comfortable life. But what if you don't need to buy houses? Will you still care about the capital? Because you must know this early that flipping houses is not buying and selling houses that conventional way.
Flipping real estate only means looking for a seller and a buyer and then closing the deal for them. And no, flipping houses is not the same as being a real estate broker. A broker looks for a buyer and gets a commission depending on the value of the house. Also, its takes months and sometimes years for a broker to make money from one property. That will not happen when you flip houses because this form of real estate investing only takes a few days to a few weeks. You get your pay check soon after the deal closes.
So how does flipping real estate work? As mentioned before, you will look for a seller. Once you find one, place his property under an assignable contract. Then, look for a buyer usually an investor in your area who is looking for the characteristics of the house you have under contract. Assign the contract to the buyer for a fee, and that's it, you're done with the deal. How much do you earn from an assignment? That will depend on you, but wholesalers usually earn between $5,000 and $10,000 from each deal they close. If you close two deals in a month, you do the math.
Jobless? Need incomes fast? Try flipping houses. It's legit, it's tested, it's proven. Go to RehabList.com right now to see how you can start to flip houses today.
